NexusFi: Find Your Edge


Home Menu

 





ApexTraderFunding.com experience and review


Discussion in Trading Reviews and Vendors

Updated
      Top Posters
    1. looks_one VirtualMark with 103 posts (87 thanks)
    2. looks_two jlabtrades with 35 posts (20 thanks)
    3. looks_3 planetkill with 35 posts (29 thanks)
    4. looks_4 ApexTraderFunding with 32 posts (30 thanks)
      Best Posters
    1. looks_one bobwest with 4.5 thanks per post
    2. looks_two Howard Roark with 3.5 thanks per post
    3. looks_3 Baudo with 2.7 thanks per post
    4. looks_4 VirtualMark with 0.8 thanks per post
    1. trending_up 157,532 views
    2. thumb_up 786 thanks given
    3. group 97 followers
    1. forum 521 posts
    2. attach_file 24 attachments




 
Search this Thread
  #341 (permalink)
 
josh's Avatar
 josh 
Georgia, US
Legendary Market Wizard
 
Experience: None
Platform: SC
Broker: Denali+Rithmic
Trading: ES, NQ, YM
Posts: 6,297 since Jan 2011
Thanks Given: 6,855
Thanks Received: 18,457


VirtualMark View Post
Or perhaps they are worried that they're paying out too much to influencers who have 20 accounts and draw $80k a month(and I've never seen any of these people pass their accounts live, such as the fraud "TradesByMatt" who magically had 20 accounts one day, but that's another subject).

While I agree on your other points, I have to ask, can you prove that he's a fraud? If not, that's a pretty serious allegation that you should retract.

Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
Elite Trader Funding, Avoid?
Trading Reviews and Vendors
Better Renko Gaps
The Elite Circle
tick data interval discrepancy
NinjaTrader
Has anyone taken The Confident Trader course from aheadc …
Trading Reviews and Vendors
Brendt Skorupinsky
Trading Reviews and Vendors
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
ApexTraderFunding.com experience and review
121 thanks
1 Minute Man
53 thanks
HumbleTraders next chapter
44 thanks
Winning attitudes create winning traders
36 thanks
Vinny E-Mini & Algobox Review TRADE ROOM
25 thanks
  #342 (permalink)
VirtualMark
Birmingham, United Kingdom
 
Posts: 162 since Jul 2022
Thanks Given: 42
Thanks Received: 139


josh View Post
While I agree on your other points, I have to ask, can you prove that he's a fraud? If not, that's a pretty serious allegation that you should retract.

No I can't prove it, it's just an opinion based on watching him lie live on stream dozens of times. Such as saying he's not selling anything, when he has affiliate links on his videos, and has made videos about Topstep and Apex.

I watched him a couple of years back quite a bit, and he would routinely average into losers and get $10k losses, but the next day be "green and happy" with a $300 win. I added up his videos for the past few days and he'd lose thousands then win a couple of hundred, and there's just no way he could make it back in a reasonable time frame.

I watched him blow Topstep accounts, then the next day he appeared on stream with a passed account. He's trading Apex now, and making out like his a "million dollar trader", literally had a video saying that. Another video said he's the "second best trader in the world". Pure clickbait nonsensical lies.

Seen threads on Reddit where people posted screenshots proving he was sim trading. There's dozens of threads about him, and how he loses a fortune live, but then "makes it all back off stream".

Reply With Quote
Thanked by:
  #343 (permalink)
 pipandrun 
Cologne, Germany
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader 8
Trading: ES
Posts: 731 since Jul 2013
Thanks Given: 2,175
Thanks Received: 1,224


One can't say Apex doesn't listen to the market....


Apex

Waiting, Discipline and Patience Pays!
Visit my NexusFi Trade Journal Reply With Quote
  #344 (permalink)
 shokunin 
Manchester, United Kingdom
 
Experience: Advanced
Platform: Sierra Chart
Broker: Amp Futures, Apex Trader Funding, Earn2Trade
Trading: ES
Frequency: Many times daily
Posts: 92 since Jul 2020
Thanks Given: 9
Thanks Received: 168

I've seen a high profile YouTuber openly say on livestream that his strategy doesn't work on a real live account, but it works with prop firms because his maximum risk on any trade is just the cost of the eval + PA + 1 day to pass. So his policy is to risk the entire account on every trade, for a very small scalp.

If he has a losing trade, his personal loss is just $101.70. If he wins 8 scalps in a row (risking the entire account on each scalp), he wins $2000. This is an excellent payout strategy, but it isn't a trading strategy. If Apex allow this to happen on a large scale, they would go bust without a doubt.

Apex have not introduced any new rules. Rather, they are drawing attention to the existing rules and simply reiterating that obtaining payouts in this manner is not what they are looking for.

Reply With Quote
  #345 (permalink)
VirtualMark
Birmingham, United Kingdom
 
Posts: 162 since Jul 2022
Thanks Given: 42
Thanks Received: 139


shokunin View Post
Apex have not introduced any new rules. Rather, they are drawing attention to the existing rules and simply reiterating that obtaining payouts in this manner is not what they are looking for.

Incorrect. The 3:1 risk to reward ratio is a new rule.

Reply With Quote
  #346 (permalink)
VirtualMark
Birmingham, United Kingdom
 
Posts: 162 since Jul 2022
Thanks Given: 42
Thanks Received: 139


pipandrun View Post
One can't say Apex doesn't listen to the market....


Apex

Yeah, so that gives 11 trading days to make $15000 with a $6500 trailing drawdown, or the fee goes back to $300. It's putting pressure on anyone who's bought these accounts to trade aggressively, and they know loads of people will fail.

It's not a great account anyway. The $50k account is way easier to pass, having $2.5k drawdown with a $3k target. You could buy 10 of these and just trade a micro or two on each, a much safer way to trade.

The only problem then is that you'd have to worry even more about getting paid, so instead of focusing on trading you will be worried that you have broken one of Apex's many rules. Did I leave enough time after the news release to place this trade? Is my risk reward bracket set within their parameters? Will they see this trade as part of my trading plan? Etc. It all feels like a distracting headache to me.

Reply With Quote
Thanked by:
  #347 (permalink)
 pipandrun 
Cologne, Germany
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader 8
Trading: ES
Posts: 731 since Jul 2013
Thanks Given: 2,175
Thanks Received: 1,224


VirtualMark View Post
Yeah, so that gives 11 trading days to make $15000 with a $6500 trailing drawdown, or the fee goes back to $300. It's putting pressure on anyone who's bought these accounts to trade aggressively, and they know loads of people will fail.

It's not a great account anyway. The $50k account is way easier to pass, having $2.5k drawdown with a $3k target. You could buy 10 of these and just trade a micro or two on each, a much safer way to trade.

The only problem then is that you'd have to worry even more about getting paid, so instead of focusing on trading you will be worried that you have broken one of Apex's many rules. Did I leave enough time after the news release to place this trade? Is my risk reward bracket set within their parameters? Will they see this trade as part of my trading plan? Etc. It all feels like a distracting headache to me.

Yes, that were my thoughts, too. The 25k-account is even the best concerning the ratio target/drawdown $1.5k-$1.5k
I am curious on my next contract how they exactly implement these new PA-rules. How many minutes after an important news release one is not allowed to trade i.e.?

Waiting, Discipline and Patience Pays!
Visit my NexusFi Trade Journal Reply With Quote
  #348 (permalink)
 pipandrun 
Cologne, Germany
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader 8
Trading: ES
Posts: 731 since Jul 2013
Thanks Given: 2,175
Thanks Received: 1,224


shokunin View Post

Apex have not introduced any new rules. Rather, they are drawing attention to the existing rules and simply reiterating that obtaining payouts in this manner is not what they are looking for.

This is the question if they have. At least on their discord channel they have. But the discord channel is not an official site from Apex. It is not clear. We'll see it in the next contract (except the ones who will never ever will blow their existing account again....)

Waiting, Discipline and Patience Pays!
Visit my NexusFi Trade Journal Reply With Quote
  #349 (permalink)
VirtualMark
Birmingham, United Kingdom
 
Posts: 162 since Jul 2022
Thanks Given: 42
Thanks Received: 139


pipandrun View Post
Yes, that were my thoughts, too. The 25k-account is even the best concerning the ratio target/drawdown $1.5k-$1.5k
I am curious on my next contract how they exactly implement these new PA-rules. How many minutes after an important news release one is not allowed to trade i.e.?

Yes that's my issue, the rules seem to be intentionally ambiguous, which would leave everything to their discretion and give them almost any excuse to not pay out.

Compare this to Tradeday, who have a clear rule about being flat I think 1 or 2 minutes before and after a news release. It's a fair and well defined rule.

Imagine if everything in life were like Apex's rules. You buy a ticket in a car park and it says you can stay for a while but not for too long else you might get a fine. 😂

Reply With Quote
  #350 (permalink)
 Jack22 
Washington DC
 
Experience: Beginner
Platform: NinjaTrader7
Trading: ES
Posts: 75 since Oct 2010
Thanks Given: 109
Thanks Received: 85



pipandrun View Post
This is the question if they have. At least on their discord channel they have. But the discord channel is not an official site from Apex. It is not clear. We'll see it in the next contract (except the ones who will never ever will blow their existing account again....)

Per their Discord:

Darrell: "THERE ARE NO NEW RULES - all these rules have existed since inception - this is just examples to answer the many questions we get and to make sure everyone understands as we have a new compliance team that will be enforcing

its not 1:3 its 3:1 meaning dont risk more than 3x what your shooting for on a consistent basis if yo haev to close early now and then thats fine"

I can't find Darrell's quote, but many mods have confirmed the following, Tradekage (mod): "you can add into a loser ONCE as darrell said. 1x"

I've read the site and my old PA agreements, I can't find a 3:1 ratio in there anywhere. There are general terms around risk management, etc., but not specific in terms of how much you are allowed to risk per trade. If I ask myself, would I, or a hypothetical trader need to change their approach based on how they're enforcing this new risk management, my answer would be yes and therefore I would also argue it's a new rule.

For the DCA, that has always been against the rules, but in practice, you have been allowed to DCA if you have a methodology, risk management, etc.. Many people have had payouts using DCA (more than 1x) over the years. This is a definite change in how they are enforcing the no DCA rule, so I would make the same argument that it's a new rule that people need to consider in their approach with Apex.

Reply With Quote
Thanked by:




Last Updated on June 17, 2024


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts